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The agency said it assessed the dynamics and impact of reverse migration triggered by the pandemic on Indian states and sectors.
Innovation led advanced production technologies will foster inclusive and sustainable industrial development, said Piyush Goyal, Minister of Commerce and Industry, Government of India.
States have also been encouraged to promote such units in a bid to help the economy recover from the disruption caused by the lockdowns. In line with this, UP has decided to set up MSME parks in Varanasi, Agra, Kanpur, Moradabad, Gorakhpur and Azamgarh. The state has the largest number of MSM units in the country at 14%.
The maximum amount of guaranteed emergency credit line (GECL) funding under the scheme would also correspondingly increase from Rs 5 crore at present to Rs 10 crore
As part of the Aatmanirbhar Bharat Package, the government had announced Rs 3 lakh crore Collateral-free Automatic Loans for businesses, including MSMEs.
The company has launched Local Shops on Amazon.in, offering shopkeepers and retailers with physical stores the ability to register to serve more customers from their local areas. Since launch, more than 11,000 sellers have enrolled in the program
In May, finance minister Nirmala Sitharaman had announced the ECLGS to provide top-up loans of up to 20% to borrowers, with outstanding credit up to Rs 25 crore on February 29.
The development comes at a time when small sellers are becoming increasingly dependent on online channels for sales in light of the economic disruption due to the Covid-19 outbreak. Amazon founder Jeff Bezos said that he could not guarantee it was not accessing third-party seller data to develop its own competing products.
Around Rs 3.44 crore have been disbursed for the indigenous industries of the State in sectors like japi, terracotta, mask-making etc.
The portal- MSMESaksham- aims to guide MSMEs across their credit lifecycle, from availing credit to start and grow their businesses, to managing credit lines to sustain and build structural strength of the business, as well as ensuring timely closures and renewals of credit facilities.
The partnership will enable Kobelco to showcase its entire portfolio of products, including all the variants of construction and mining equipment, to more than 90,000 customers of iQuippo, a Kanoria Foundation initiative.
The study, based on a survey of SMBs from across the Asia Pacific region conducted by IDC and commissioned by Cisco, shows that SMBs that are more digitally mature enjoy twice as many benefits in terms of revenue and productivity compared to those that have an indifferent approach to digitalisation.
Under a pre-packaged insolvency plan, debtors and creditors agree upon the restructuring plan in advance, helping speed up the process.
He said the state government was working to ensure firms operating outside the jurisdiction of MIDC get subsidy benefits on various purchases which are currently unavailable.
The Wadhwani foundation are trying to serve SMEs at different size levels because the nature of the consulting they need is somewhat different.
The central bank conducted a systemic risk survey to capture the participants of experts on the major risks faced by the financial system, which is published in its financial stability report.
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